The present invention relates to a new and distinct strawberry variety named ‘PRIZE’. This new variety is a result of a controlled cross made in 2003 in an ongoing breeding program between strawberry variety designated ‘PS-2880’ (U.S. Plant Pat. No. 15,597) and strawberry selection designated ‘PS-2899’ (unpatented). Due to the combining of the reciprocal seed lots, it is unknown as to which parent variety is the seed parent and which parent variety is the pollen parent. The variety is botanically known as Fragaria ananassa. 
The seedling resulting from the aforementioned cross was selected from a controlled breeding plot in Ventura County, Calif. in the fall of 2005. After its selection, the new variety was asexually propagated by stolons in both San Joaquin County, Calif. and Siskiyou County, Calif. The new variety was extensively tested over the next several years in fruiting fields in Ventura County, Calif. This propagation has demonstrated that the combination of traits disclosed herein as characterizing the new variety are fixed and remain true to type through successive generations of asexual reproduction.